Promoting Sustainable Growth in Europe - New Solutions for Finding the EU’s Way out of the Crisis


Considering that the EU needs to go towards an Institutional Reform as portrayed by the “Blueprint for a deep and genuine economic and monetary union”; Europe needs to complete Economic, Monetary, Fiscal and Political Union to create a true political economy to implement sustainable policies able to ensure growth, social inclusion, and competitiveness;

JEF Europe calls for

A) In the short term
Bringing an end to remaining obstacles within the Single Market, e.g., by ending lengthy bureaucratic procedures, by optimizing mutual recognition of qualifications, by setting common standards for online and consumer protection;

Completing the ongoing adoption and implementation of the banking union, relying on three pillars: first, the ECB as a single supervisory authority in the eurozone for banks reaching a certain size; second; a common resolution fund and harmonised resolution mechanisms; and third, a common deposit insurance scheme;

Encouraging partial mutualisation of debt;

Supporting grassroots European initiatives on sustainable growth and employment;

Adopting measures to ensure that women finally benefit from ‘equal pay for equal work’ to counteract negative impact on state household finances and on female employment figures across Europe;

Facilitating trade and investment between the EU and trade partners by reaching agreements with these countries;

B) In the medium term
Paving the way to implement a European economic government in order to develop a coherent economic governance going further than the Stability and Growth Pact;

Setting up a minimum unemployment insurance scheme that provides additional financial support to unemployed persons for up to 12 months during a probationary period;

Tackling tax evasion (aiming among other things at eliminating fiscal havens) by the means of fiscal coordination;

Promoting the introduction of a ‘Financial Transaction Tax’ (FTT) on the basis of the principles of residence and issuance within the countries participating in the group of enhanced co-operation;

Stimulating the debate about the introduction of a EU carbon tax that would allow for an increase of own resources to the EU annual budget;

Promoting a genuine Fiscal Union, starting from the creation of a European budget in order to support a true European-wide political economy funded by own European resources. That is essential to support investments at European level towards citizens and Member States and palliate eventual shocks created by Economic cycles;

Completing the integration of financial markets, especially by harmonising regulation and preventing international banks from arbitrating between different legislations;

C) In the long term
Building vital interconnections in the areas of energy, including renewable resources, transport and telecommunications, in order to diversify our sources of energy and enhance energy security to the most vulnerable Member States;

Completing the European Digital Single Market, including careful consideration of sensitive issues such as e-privacy, consumer and online data protection, as well as encouraging policy reforms to support digital entrepreneurship;

Launching a comprehensive review of legislation, both at EU and national level, in order to cut red tape by removing overlapping, out-of-date or contradictory legislation.